Friday, May 9, 2008

Penthouse W/Indoor Pool: Reduced to $5.5M

One man's misfortune is another man's opportunity.

If you're looking--even vicariously--for a bargain penthouse with indoor pool, both the resistance and the billiards varieties--and aren't we all?--check out the current post at, a blog that cleverly bills itself as: "Flips, Foreclosures, McMansions, New Condos: The Dish on the Chicago Housing Market."

It's a "foreclosure opportunity," listed at $5.5 million, having originally sold for $3.7 million, in 2002, and resold for $6 million in July 2007, eight months before it went into pre-foreclosure.

The four-bedroom, 4.5-bath loft at 400 W. Ontario in River North has 6,700 square feet. So the asking price amounts to $821 per square foot. @properties has the listing. Hurry, only one left. Based on the figures in the above post from the Wall Street Journal, this condo would go for nearly $18 million in London.

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